Zacks: Analysts Anticipate Molson Coors Brewing Co (NYSE:TAP) to Announce $0.78 Earnings Per Share

Equities research analysts expect Molson Coors Brewing Co (NYSE:TAP) to announce earnings per share of $0.78 for the current quarter, Zacks reports. Three analysts have made estimates for Molson Coors Brewing’s earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.59. Molson Coors Brewing reported earnings per share of $0.84 in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.1%. The business is expected to announce its next earnings results on Tuesday, February 11th.

On average, analysts expect that Molson Coors Brewing will report full year earnings of $4.30 per share for the current fiscal year, with EPS estimates ranging from $4.11 to $4.40. For the next financial year, analysts forecast that the business will report earnings of $3.98 per share, with EPS estimates ranging from $3.76 to $4.17. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Molson Coors Brewing.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.87 billion. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. Molson Coors Brewing’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 EPS.

Several analysts recently issued reports on TAP shares. Citigroup set a $60.00 price objective on shares of Molson Coors Brewing and gave the stock a “buy” rating in a report on Friday, November 1st. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 price objective for the company in a report on Monday, November 4th. BMO Capital Markets downgraded shares of Molson Coors Brewing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $62.00 to $55.00 in a report on Tuesday, November 26th. Barclays downgraded shares of Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $59.00 to $54.00 in a report on Monday, November 25th. Finally, Berenberg Bank reissued a “hold” rating and issued a $51.00 price target on shares of Molson Coors Brewing in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Molson Coors Brewing has a consensus rating of “Hold” and a consensus target price of $55.75.

A number of institutional investors have recently modified their holdings of the business. Schwarz Dygos Wheeler Investment Advisors LLC bought a new stake in Molson Coors Brewing in the 3rd quarter valued at $319,000. National Pension Service raised its stake in shares of Molson Coors Brewing by 5.4% in the 3rd quarter. National Pension Service now owns 274,046 shares of the company’s stock valued at $15,758,000 after buying an additional 14,076 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Molson Coors Brewing by 4.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 60,455 shares of the company’s stock valued at $3,476,000 after buying an additional 2,817 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Molson Coors Brewing by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 293,717 shares of the company’s stock valued at $16,889,000 after buying an additional 1,241 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of Molson Coors Brewing by 48.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 46,614 shares of the company’s stock valued at $2,680,000 after buying an additional 15,240 shares in the last quarter. 77.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE TAP traded down $0.55 during trading hours on Monday, hitting $50.81. 1,593,374 shares of the stock were exchanged, compared to its average volume of 1,429,329. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.59 and a quick ratio of 0.42. The company’s 50 day moving average is $52.57 and its 200 day moving average is $54.32. The firm has a market capitalization of $11.07 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.98 and a beta of 0.74. Molson Coors Brewing has a one year low of $49.82 and a one year high of $67.24.

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Friday, November 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 45.24%.

About Molson Coors Brewing

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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